GENERALReliance Growth Fund touches net asset value of Rs 900 croreReliance Capital Asset Management~s open-ended equity growth scheme, Reliance Growth Fund, has achieved a net asset value (NAV) of Rs 900 crore. This is the first fund in the industry to achieve this NAV level. The fund was launched 21 years ago in October 1995.

GENERALGold ETFs outflow reaches Rs 462 cr in April-AugustInvestors remained bearish on gold exchange-traded funds (ETFs) in August and pulled out Rs 51 crore from this instrument, taking the total to Rs 462 crore in the first five months of the current fiscal.

GENERALAn IPO wave is just startingWhile the Indian markets have seen a pick-up in new share sales in 2016, the market for initial public offers (IPO) worldwide has been in a slump.

GENERALNFOs lose steam as existing plans hot upAfter two years of strong showing, equity new fund offers (NFOs) have lost steam this year. So far from January, mutual funds have seen only 13 NFOs, which together have mobilised less than Rs 900 crore. Last year saw 63 NFOs, to raise a little over Rs 8,800 crore.

GENERALMF folio count rises 21 lakh to around 5 crore in August endShowing a growing traction for mutual funds among investors, the number of folios has surged by over 21 lakh in the first five months of the ongoing financial year (FY) to around 5 crore, mainly on account of strong participation from retail investors.

Forth-Coming Dividend

Forth-Coming NFO

DIVIDENDAxis Midcap Fund Announces DividendAxis mutual fund has announced dividend under the dividend option & direct plan-dividend option of Axis Midcap Fund the record date for declaration of dividend is september 15, 2016. The quantum of dividend on the face value of Rs 10 per unit will be Rs 2.00 per unit under each plan.